Odaily Planet Daily reports that after announcing strong financial results and advancing its AI transformation strategy, analysts believe that the company’s merchant payment business, Square, will be the main beneficiary of this strategic shift.
The financial report shows that Block achieved an operating profit of $485 million in the fourth quarter, with an adjusted operating profit of $588 million. Net profit attributable to common shareholders was $116 million, and adjusted EBITDA reached $930 million. The company also raised its 2026 gross profit guidance to $12.2 billion, an increase of approximately 18% year-over-year.
CEO Jack Dorsey recently announced that the company will cut over 40% of its staff, reducing the total from over 10,000 to less than 6,000 employees, to promote a leaner, AI-centric operational model. Analysts believe that Block is one of the first fintech companies to fundamentally reassess its workforce structure and productivity.
Additionally, the company recently increased its Bitcoin holdings by 103 BTC, bringing its total to approximately 8,883 BTC, valued at around $577 million, making it the 14th largest corporate Bitcoin holder globally.
Dorsey stated that during the pandemic, the company rapidly expanded its workforce and established independent systems for Square and Cash App, leading to redundancies. Block is now pushing organizational integration and plans to increase per-employee gross profit to over $2 million, roughly four times pre-pandemic levels. Analysts believe that, under the backdrop of AI-driven efficiency improvements, Square’s business is expected to be the first to achieve scaled revenue growth.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Last week, Bitcoin spot ETF saw a net inflow of $568 million, and BlackRock IBIT had a net inflow of $660 million.
Last week, Bitcoin spot ETF net inflows reached $568 million, with BlackRock's IBIT leading with a weekly net inflow of $660 million, bringing the total historical net inflows to $62.47 billion. Fidelity's FBTC experienced a net outflow of $153 million. The current total net asset value of Bitcoin spot ETFs is $87.07 billion.
GateNews3m ago
Trader pension-usdt.eth 3x long 1,000 BTC, 10 consecutive profits since March 1
Gate News Report, March 9th: According to Lookonchain monitoring, trader pension-usdt.eth opened a 3x leveraged long position on 1,000 BTC, worth $67.26 million, two hours ago. Currently, this trade has an unrealized profit of $970,000. Data shows that this trader has made 10 consecutive profitable trades since March 1st, with no losses, accumulating a total profit of $27.22 million, and a win rate of 85%.
GateNews5m ago
Bitcoin-Tech Stock Correlation Is Overblown, NYDIG
Bitcoin’s recent price action has traced the footsteps of US software equities, driven more by macro liquidity conditions than a lasting structural link to the tech sector. In a note issued on Friday, Greg Cipolaro, NYDIG’s head of research, argued that the visual fit between BTC and software
CryptoBreaking25m ago
Peter Brandt: The potential target price for crude oil futures is $214
Gate News Announcement, March 9th, renowned trader and chart analyst Peter Brandt, who successfully predicted the 2018 Bitcoin crash, released a chart indicating that the potential target price for WTI crude oil futures (international benchmark price) is $214. If this target is reached, it will cause a surge in airline fuel costs, severely impacting profits.
GateNews31m ago
NYDIG Research Director: Bitcoin price fluctuations are only 1/4 influenced by stock market correlation
NYDIG Research Director Greg Cipolaro pointed out that the recent rise of Bitcoin alongside the U.S. stock software sector is mainly driven by macro factors rather than structural convergence. He stated that only a quarter of Bitcoin price movements are related to the stock market, with 75% of the factors coming from other areas, emphasizing its role as a diversification tool in investment portfolios.
GateNews56m ago
332.09 BTC transferred from an anonymous address to a certain CEX, valued at approximately $134 million
Gate News Report, March 9th, according to Arkham data, at 11:43, 332.09 BTC (worth approximately $134 million) was transferred from an anonymous address (starting with bc1qnzx...) to a certain CEX.
GateNews58m ago
